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Side-by-side financial comparison of Ametek (AME) and Perma-Pipe International Holdings, Inc. (PPIH). Click either name above to swap in a different company.
Ametek is the larger business by last-quarter revenue ($2.0B vs $61.1M, roughly 32.7× Perma-Pipe International Holdings, Inc.). Ametek runs the higher net margin — 19.9% vs 10.3%, a 9.6% gap on every dollar of revenue. On growth, Perma-Pipe International Holdings, Inc. posted the faster year-over-year revenue change (47.1% vs 13.4%). Ametek produced more free cash flow last quarter ($527.3M vs $12.4M). Over the past eight quarters, Perma-Pipe International Holdings, Inc.'s revenue compounded faster (23.4% CAGR vs 7.3%).
AMETEK, Inc. is an American multinational conglomerate and global designer and manufacturer of electronic instruments and electromechanical devices with headquarters in the United States and over 150 sites worldwide.
Perma-Pipe International Holdings, Inc. designs, manufactures and supplies pre-insulated piping systems and integrated leak detection solutions. Its offerings cater to oil & gas, district heating and cooling, industrial, and municipal infrastructure segments, with a global footprint spanning North America, the Middle East, Europe and Asia.
AME vs PPIH — Head-to-Head
Income Statement — Q4 2025 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $61.1M |
| Net Profit | $398.6M | $6.3M |
| Gross Margin | 36.0% | 34.4% |
| Operating Margin | 25.3% | 18.6% |
| Net Margin | 19.9% | 10.3% |
| Revenue YoY | 13.4% | 47.1% |
| Net Profit YoY | 2.9% | 153.5% |
| EPS (diluted) | $1.73 | $0.77 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.0B | $61.1M | ||
| Q3 25 | $1.9B | $47.9M | ||
| Q2 25 | $1.8B | $46.7M | ||
| Q1 25 | $1.7B | $45.0M | ||
| Q4 24 | $1.8B | $41.6M | ||
| Q3 24 | $1.7B | $37.5M | ||
| Q2 24 | $1.7B | $34.3M | ||
| Q1 24 | $1.7B | $40.2M |
| Q4 25 | $398.6M | $6.3M | ||
| Q3 25 | $371.4M | $851.0K | ||
| Q2 25 | $358.4M | $5.0M | ||
| Q1 25 | $351.8M | $1.8M | ||
| Q4 24 | $387.3M | $2.5M | ||
| Q3 24 | $340.2M | $3.3M | ||
| Q2 24 | $337.7M | $1.4M | ||
| Q1 24 | $310.9M | $8.6M |
| Q4 25 | 36.0% | 34.4% | ||
| Q3 25 | 36.3% | 30.1% | ||
| Q2 25 | 35.8% | 35.8% | ||
| Q1 25 | 36.1% | 33.7% | ||
| Q4 24 | 36.6% | 33.9% | ||
| Q3 24 | 36.0% | 35.9% | ||
| Q2 24 | 36.0% | 30.6% | ||
| Q1 24 | 34.1% | 30.0% |
| Q4 25 | 25.3% | 18.6% | ||
| Q3 25 | 25.8% | 6.7% | ||
| Q2 25 | 26.0% | 16.9% | ||
| Q1 25 | 26.3% | 12.1% | ||
| Q4 24 | 26.6% | 13.4% | ||
| Q3 24 | 26.1% | 16.4% | ||
| Q2 24 | 25.8% | 9.1% | ||
| Q1 24 | 24.0% | 11.3% |
| Q4 25 | 19.9% | 10.3% | ||
| Q3 25 | 19.6% | 1.8% | ||
| Q2 25 | 20.2% | 10.6% | ||
| Q1 25 | 20.3% | 3.9% | ||
| Q4 24 | 22.0% | 6.0% | ||
| Q3 24 | 19.9% | 8.8% | ||
| Q2 24 | 19.5% | 4.2% | ||
| Q1 24 | 17.9% | 21.5% |
| Q4 25 | $1.73 | $0.77 | ||
| Q3 25 | $1.60 | $0.10 | ||
| Q2 25 | $1.55 | $0.61 | ||
| Q1 25 | $1.52 | $0.23 | ||
| Q4 24 | $1.67 | $0.31 | ||
| Q3 24 | $1.47 | $0.40 | ||
| Q2 24 | $1.45 | $0.18 | ||
| Q1 24 | $1.34 | $1.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $458.0M | $27.2M |
| Total DebtLower is stronger | $2.3B | $12.7M |
| Stockholders' EquityBook value | $10.6B | $85.8M |
| Total Assets | $16.1B | $217.0M |
| Debt / EquityLower = less leverage | 0.21× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $458.0M | $27.2M | ||
| Q3 25 | $439.2M | $17.3M | ||
| Q2 25 | $619.7M | $18.8M | ||
| Q1 25 | $399.0M | $15.7M | ||
| Q4 24 | $374.0M | $13.3M | ||
| Q3 24 | $396.3M | $9.5M | ||
| Q2 24 | $396.6M | $7.7M | ||
| Q1 24 | $373.8M | $5.8M |
| Q4 25 | $2.3B | $12.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $15.2M | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $15.2M |
| Q4 25 | $10.6B | $85.8M | ||
| Q3 25 | $10.5B | $80.2M | ||
| Q2 25 | $10.4B | $77.9M | ||
| Q1 25 | $10.0B | $72.1M | ||
| Q4 24 | $9.7B | $71.2M | ||
| Q3 24 | $9.6B | $68.6M | ||
| Q2 24 | $9.3B | $65.5M | ||
| Q1 24 | $9.0B | $65.7M |
| Q4 25 | $16.1B | $217.0M | ||
| Q3 25 | $16.2B | $189.0M | ||
| Q2 25 | $15.3B | $178.3M | ||
| Q1 25 | $14.9B | $165.2M | ||
| Q4 24 | $14.6B | $160.7M | ||
| Q3 24 | $14.8B | $157.8M | ||
| Q2 24 | $14.8B | $155.7M | ||
| Q1 24 | $14.9B | $155.7M |
| Q4 25 | 0.21× | 0.15× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.21× | ||
| Q4 24 | 0.22× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.23× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $584.3M | $17.3M |
| Free Cash FlowOCF − Capex | $527.3M | $12.4M |
| FCF MarginFCF / Revenue | 26.4% | 20.2% |
| Capex IntensityCapex / Revenue | 2.9% | 8.1% |
| Cash ConversionOCF / Net Profit | 1.47× | 2.74× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7B | $12.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $584.3M | $17.3M | ||
| Q3 25 | $440.9M | $-2.0M | ||
| Q2 25 | $359.1M | $733.0K | ||
| Q1 25 | $417.5M | $6.0M | ||
| Q4 24 | $550.0M | $5.2M | ||
| Q3 24 | $487.2M | $2.8M | ||
| Q2 24 | $381.4M | $-73.0K | ||
| Q1 24 | $410.2M | $7.1M |
| Q4 25 | $527.3M | $12.4M | ||
| Q3 25 | $420.0M | $-4.6M | ||
| Q2 25 | $329.8M | $-194.0K | ||
| Q1 25 | $394.5M | $4.7M | ||
| Q4 24 | $498.3M | $4.8M | ||
| Q3 24 | $460.9M | $2.2M | ||
| Q2 24 | $360.0M | $-662.0K | ||
| Q1 24 | $382.6M | $4.2M |
| Q4 25 | 26.4% | 20.2% | ||
| Q3 25 | 22.2% | -9.6% | ||
| Q2 25 | 18.5% | -0.4% | ||
| Q1 25 | 22.8% | 10.5% | ||
| Q4 24 | 28.3% | 11.6% | ||
| Q3 24 | 27.0% | 5.8% | ||
| Q2 24 | 20.8% | -1.9% | ||
| Q1 24 | 22.0% | 10.5% |
| Q4 25 | 2.9% | 8.1% | ||
| Q3 25 | 1.1% | 5.3% | ||
| Q2 25 | 1.6% | 2.0% | ||
| Q1 25 | 1.3% | 2.9% | ||
| Q4 24 | 2.9% | 0.8% | ||
| Q3 24 | 1.5% | 1.7% | ||
| Q2 24 | 1.2% | 1.7% | ||
| Q1 24 | 1.6% | 7.2% |
| Q4 25 | 1.47× | 2.74× | ||
| Q3 25 | 1.19× | -2.40× | ||
| Q2 25 | 1.00× | 0.15× | ||
| Q1 25 | 1.19× | 3.42× | ||
| Q4 24 | 1.42× | 2.07× | ||
| Q3 24 | 1.43× | 0.86× | ||
| Q2 24 | 1.13× | -0.05× | ||
| Q1 24 | 1.32× | 0.82× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AME
| Transferred At Point In Time | $1.1B | 54% |
| Electronic Instruments Group | $620.1M | 31% |
| Transferred Over Time | $294.6M | 15% |
PPIH
Segment breakdown not available.
